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MEPs have called on the European Commission to look at how so-called virtual currencies should be regulated, following a vote by the 28-member-state bloc's economy committee on Tuesday.

The Commission has already been considering the issue from the perspective of combating crime. Now, the non-binding resolution—meaning the commission must take note, but doesn’t have to act—points out that the new technologies could have widespread benefits for ordinary citizens.

The first blockchain underpinning Bitcoin was started some seven years ago, and it has received some bad press for allowing anonymous transactions that critics say contributes to crime.

However the technology—which operates as a decentralised ledger, and is verified and shared by a network of computers—has the potential to greatly increase transparency and trace-ability.

The MEPs, led by German socialist Jakob von Weizsäcker, want Europe to catch up with the "regulatory challenges" that dog virtual currencies.

The UK government, meanwhile, appears to be ahead of the game. On Tuesday Whitehall said it was looking at ways to use virtual currencies to help distribute public money—including grants and student loans—more efficiently.

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“Government cannot bury its head in the sand and ignore new technologies as they emerge,” said cabinet office minister, Matt Hancock.

Last week, Lithuanian MEP Antanas Guoga labelled blockchain a “perfect technology,” urged politicians to get some Bitcoins, and told them to stop “trying to make laws for something we don’t understand.”

The EU's internal market for consumer protection committee, which Guoga sits on, has set up a new virtual currency task force, and demanded action from the European Commission.

Commission officials have so far dragged their feet, however, claiming it's too early to regulate such a nascent technology. Furthermore, it could face increased pressure when parliament as a whole votes on the issue next month.